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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Think4Yourself who wrote (196873)4/19/2009 10:05:39 AM
From: neolibRead Replies (1) of 306849
 
Years ago I lived right on the border of Palo Alto and East Palo Alto, which are separated by HWY 101. The contrast was a good object lesson in how behavior affects real estate prices.

However it is also worth noting that much of the crap in East Palo Alto was not owned by the crack dealer inhabitants. They were renters. Eventually the owners, including those who owned their own homes, sold out to commercial RE, and the place is quite different today. Of course you need a viable economy for CRE to transform an area, and Detroit don't look so hot in that regards.
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